Wall Street surges on hopes for stimulus, Covid-19 vaccine; Dow rises 3.2%

Wall Street's main indexes surged on Monday as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also counting on more stimulus to rescue the economy from a deep slowdown.

Drugmaker Moderna Inc said its experimental COVID-19 vaccine showed promising results in a small early stage trial, boosting futures in premarket trading. Its own shares jumped 14 per cent .

Investors have kept a close eye on vaccine programs of several drugmakers, cheering any positive development amid fears of a second wave of infections as governments start easing restrictions.

"If there really is a workable vaccine that can be